Ms. Rigano's Math Classes



Names: _____________________________________ Term 2 Quiz Grade

Introduction: Can you imagine what it will be like when you finally graduate and land that first real job?  What will you do with all that money?  You will need to decide how to invest it, what kind of car you want to drive, and maybe even consider buying a house.  Along with all that freedom will come some mighty big financial responsibilities.

Task: Working in groups of 3, you will imagine that you are a recent college graduate.  You must use your knowledge of exponential growth and decay functions to make some important financial decisions.  For example, you will have to decide where you will bank and invest your money.  You will also decide whether or not investing large amounts of money into a home or automobile are wise financial decisions.  NOTE: Each team member will be in charge of one worksheet. Please write those names next to the parts below.

Part I  (Goes with Worksheet 1) Team member___________

You just received $10,000 from a long lost uncle as a graduation gift.  You must decide which financial institution and what type of account you will put it in.  Your goal is to obtain as much interest as possible, because you have big plans for the future.

Steps:

(1)   Visit the websites of several financial institutions to determine which bank/account offers the best interest rates. Be aware of extra fees and required minimum balances.

(2)   Use worksheet 1 to record your findings for the top three saving accounts/CDs. 

(3)  Use the highest yielding account to calculate how much your investment will be worth in 10, 25, and 40 years. 

   

RESOURCES

Bank of America  Chase Bank  TD Bank 

Santander (Sovereign) Bank Century Bank Wells Fargo 

Citizens Bank   East Boston Savings Bank 

  

Part II (Goes with Worksheet 2) Team member___________

 

Now that you are commuting to work every day, you are considering buying a new car. However, you are undecided if you should invest in a new car or just keep the one you have. You have heard that cars depreciate a lot, and you don't want to waste your hard earned money. 

Let's do a little investigating to see if cars really do depreciate and if so, by how much.  Decide on a used automobile that you would like to purchase. Find the auto in an advertisement in the newspaper, car magazine, or internet and attach a copy of the advertisement to your work. The vehicle must be at least 3 years old. Use worksheet 2 to record your findings to the following.

(1) Determine the current price.

(2) Determine the original price when the car was sold new.

(3) What is the rate of depreciation? Write an equation to represent the car’s depreciation.

(4) Using that model, what will the car be worth in 5 years?

(5) Graph the information above. You may sketch your graph on this paper or use an online graphing program.

(6) Is a car an investment? Why or why not?

RESOURCES

Cars for Sale (recommend) Auto Trader  Kelley Blue Book 

Car Gurus Desmos Graphing Calculator Meta Calculator 

Part III (Goes with Worksheet 2) Team member___________

  

Now you need somewhere to live. You decide to buy a home. You cannot afford a new build, so search the homes in your area that are for sale. Once you decide on a home, attach a copy of the advertisement in your work.  Use worksheet 3 to record your results.

(1) What is the current value of the house?

(2) How old is the house?

(3) What was the original price of the home or the last price it was sold at?

(4) What is the rate of appreciation? Write an equation to represent the home’s appreciation.

(5) Using that model, what will be the price of the home in 10 years?

(6) Show a graph of the information above.  You may sketch your graph on this paper or use an online graphing program.

(7) Is a house an investment? Why or why not?            

 

RESOURCES:

REMAX  Coldwell Banker Century 21  Mass Realty

Zillow  Trulia Redfin

Hint:  it may be easier to decide on a house in which you know the current owners.  You can ask them what they paid when they purchased the home.  Don't forget to find out what year they purchased it.  Then use a site such as Zillow to determine the current price of the house. 

This project was modified from the webquest written by by Bobbie Smith, Vista Murrieta High School and found on 1/16/2015 at the following site:

Worksheet 1: Exponential Equation Model:_________________________

(write the general formulas that you will be using)

|Name of Bank/ |Type of |Annual Interest|Number of times |Equation representing total|Equation representing |Total Amount after 25 |

|Institution |Account |Rate (APY) |interest is compounded |amount after ‘t’ yrs. |total amount after 25 yrs.|years. |

| |(savings or | |per year (n) | | | |

| |CD) | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

Which account above is the best?___________________________________________

Use the best results to answer the following questions.

1. How much money will be in your account after 10 years?_____________________

Show your work here.

2. By what percent will your savings increase overall after 10 years? ______________

Make sure your answer is over 100% as the amount has grown. Show your work here.

3. How much money will be in your account after 40 years? _____________________

Show your work here.

4. By what percent will your savings increase overall after 40 years? ______________

Make sure your answer is over 100% as the amount has grown. Show your work here.

Worksheet 2: Vehicle Information - Make_______________ Model_______________

Year________________

Current price: ___________________

Original price when the car was sold new (use the average price for that make, model, and year):___________________

What is the yearly rate of depreciation?

Show your work here.

Write an equation that represents the model of the car’s depreciation:

Show your work here.

Using that model, what will the car be worth in 5 years (from today)?

Show your work here.

Graph the equation above (make the x-axis go from the year the car was new to at least 20 years later).

Attach graph here.

Is a car an investment? Why or why not?

Worksheet 3: The House Location: _________________________________

(address, city, state)

What is the current value of the house? _______________________

What year was the house built? _________ How old is the house? ____________

When was the home last sold? _________ How much was it sold for? ____________

What is the yearly rate of appreciation?

Show your work here

Write an equation to represent the home’s appreciation.

Show your work here.

Using that model, what will be the price of the home in 10 years (from today)?

Show your work here

Graph the equation above (make the x-axis go from the year the house was built to at least 20 years from now).

Attach graph here.

Is a house an investment? Why or why not?

| |Advanced |Exceeds Expectations |Meets Expectations |Needs Improvement |Insufficient |

|Grading Rubric |(5) |(4) |(3) |(2) |(1) |

|Create Solutions (WS1) |-Technical proficiency is |-Technical proficiency |-Technical proficiency|-Technical |-Unable to demonstrate|

|Technical proficiency |masterful. |is approaching mastery. |is adequate. |proficiency is |technical proficiency |

| | | | |lacking. | |

|Evaluate and Draw Logical Conclusions |-Conclusions demonstrate a |-Conclusions demonstrate|-Conclusions |-Conclusions |-Unable to show how |

|(WS1) |thorough and insightful |a thorough synthesis of |demonstrate synthesis |demonstrate limited |available information |

|Evidence to draw conclusions |synthesis of the evidence. |the evidence. |of the evidence. |synthesis of the |was used to support |

| | | | |evidence. |any conclusions. |

|Create Solutions (WS2) |-Technical proficiency is |-Technical proficiency |-Technical proficiency|-Technical |-Unable to demonstrate|

|Technical proficiency |masterful. |is approaching mastery. |is adequate. |proficiency is |technical proficiency |

| | | | |lacking. | |

|Graph (WS2) |-Uses technology to |-Uses technology to |-Uses technology to |-Uses technology to |-Unable to use |

|Demonstrating Content |demonstrate mastery of |demonstrate mastery of |demonstrate content |demonstrate some |technology to |

|Knowledge |content knowledge |content knowledge |knowledge |content knowledge |demonstrate content |

| | | | | |knowledge |

|Evaluate and Draw Logical Conclusions |-Thoroughly evaluates |-Evaluates reasonable |--Evaluates some |-Evaluates minimal |-Unable to provide any|

|(WS2: Last Q) |reasonable alternatives and |alternatives and |alternatives and |understanding of |possible consequences.|

|Ramifications of conclusions and |possible consequences. |possible consequences. |consequences. |consequences. | |

|alternatives | | | | | |

|Create Solutions (WS3) |-Technical proficiency is |-Technical proficiency |-Technical proficiency|-Technical |-Unable to demonstrate|

|Technical proficiency |masterful. |is approaching mastery. |is adequate. |proficiency is |technical proficiency |

| | | | |lacking. | |

|Graph (WS3) |-Uses technology to |-Uses technology to |-Uses technology to |-Uses technology to |-Unable to use |

|Demonstrating Content |demonstrate mastery of |demonstrate mastery of |demonstrate content |demonstrate some |technology to |

|Knowledge |content knowledge |content knowledge |knowledge |content knowledge |demonstrate content |

| | | | | |knowledge |

|Evaluate and Draw Logical Conclusions |-Thoroughly evaluates |-Evaluates reasonable |--Evaluates some |-Evaluates minimal |-Unable to provide any|

|(WS3: Last Q) |reasonable alternatives and |alternatives and |alternatives and |understanding of |possible consequences.|

|Ramifications of conclusions and |possible consequences. |possible consequences. |consequences. |consequences. | |

|alternatives | | | | | |

|Implement Appropriate Strategies (on |-Thoroughly evaluates and |- Evaluates and |-Incorporates some |-Incorporates some |-Unable to provide |

|right track) |incorporates information |incorporates information|information through |information through |information through |

|Evaluation and incorporation of |using critical analysis |using critical analysis |critical analysis |critical analysis |critical analysis |

|information |skills. |skills. |skills. |skills. |skills. |

|Implementation |Takes initiative in |Shows some initiative in|Adequately |Exhibits rudimentary|Does not implement |

|Equitable collaboration |collaborating with others |collaborating with |collaborates with |collaboration and |effectively or |

|Self-monitoring |equitably and practicing |others equitably and |others and practices |occasional self- |self-monitor. |

| |exceptional self-monitoring. |practicing |self- monitoring. |monitoring. | |

| | |self-monitoring. | | | |

|Academic |-Submits |-Submits assignment |-Submits completed |-Submits assignment but lacks |-Submits assignments |

|Expectations |assignment |completed (but not all |assignment (missing a minor|attention to detail (missing a|incomplete (missing more than |

|Preparedness |thoroughly |components meet |component) |major component or multiple |one major |

| |completed |expectations for |ex: copies of |minor components) |and minor components) |

| |(-0) |completeness) |advertisements |(-3) |(-4) |

| | |(-1) |(-2) | | |

Total (partner 1) /50 Total (partner 2) /50 Total (partner 3) /50

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download